A new study is trumpeting electric cars as the fastest, most efficient way to reduce emissions and lower U.S. oil imports.
The report, released by Rice University's Baker Policy Institute, also claimed that a renewable portfolio standard — which would require a certain percentage of electricity to be produced from renewable sources — would be practically impotent against U.S. oil use.
"The single most effective way to reduce U.S. oil demand and foreign imports would be an aggressive campaign to launch electric vehicles into the automotive fleet," the report stated.
The study states that the United States could cut its greenhouse gas (GHG) emissions by 7% by mandating 30% of all vehicles to be electric by 2050.
It could also reduce U.S. oil use by 2.5 million barrels per day.
But the report has some harsh findings for proponents of renewable portfolio standards...
The proposed renewable portfolio standard (RPS) would only cut around 4% over the same time period...
But more shocking is that the analysis found implementing a national RPS alone wouldn't even make a dent in U.S. oil use or oil imports.
The report contends a RPS would disincentivize coal power; by 2050, GHG emissions would reduce by 4.3% versus no policy at all.
However, it would result in higher expense to consumers than directly regulating coal pollution.
Additionally, by encouraging more wind resources, more natural gas-fired power plants would need to be built to back up the nighttime wind supply — an added cost factor.
“The costs to consumers of a national RPS will rise as expanded renewable capacity is pushed forward in time by the regulation. In fact electricity prices are projected to increase more than threefold under a strict RPS scenario,” warned the report.
Instead of focusing on wind subsides, the Institute encourages more focus on geothermal energy, which could feasibly provide around-the-clock electricity.
In addition to the recommendations to increase electric vehicles and geothermal energy research, the report suggests “implementing a strong carbon cap with active trading in carbon offsets would be the most effective manner to reduce U.S. GHG emissions by 2050 in a manner that limits the cost of carbon abatement from rising above levels that might be deemed acceptable in U.S. political circles.”
And with those political circles seeming to shrink with every Senate vote, time will tell if any manner of cohesive energy legislation — including those recommended in the Rice University report — will see the light of day.
You can read the executive summary of the report here.
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